Parsons (NYSE:PSN) Given New $110.00 Price Target at Truist Financial

Parsons (NYSE:PSN) had its price objective reduced by Truist Financial from $130.00 to $110.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently weighed in on PSN. Robert W. Baird upped their price target on shares of Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target for the company. in a research note on Wednesday, October 23rd. Benchmark boosted their price target on Parsons from $68.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, KeyCorp raised their price objective on shares of Parsons from $116.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Parsons has a consensus rating of “Moderate Buy” and an average price target of $105.13.

Parsons Trading Down 2.3 %

Shares of NYSE PSN opened at $96.73 on Friday. The firm has a market capitalization of $10.27 billion, a PE ratio of 146.56, a PEG ratio of 1.77 and a beta of 0.80. Parsons has a one year low of $61.10 and a one year high of $114.68. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $104.84 and a two-hundred day moving average price of $91.09.

Parsons (NYSE:PSN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a net margin of 1.21% and a return on equity of 12.74%. As a group, analysts predict that Parsons will post 3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Parsons

A number of large investors have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D acquired a new stake in shares of Parsons in the third quarter worth $2,172,000. Oppenheimer & Co. Inc. lifted its position in Parsons by 37.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 24,016 shares of the company’s stock worth $2,490,000 after acquiring an additional 6,577 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Parsons in the third quarter valued at about $1,004,000. Tidal Investments LLC bought a new position in shares of Parsons in the first quarter worth about $853,000. Finally, Russell Investments Group Ltd. grew its holdings in Parsons by 17,130.4% in the 1st quarter. Russell Investments Group Ltd. now owns 9,649 shares of the company’s stock valued at $800,000 after buying an additional 9,593 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.

About Parsons

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.